Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Strategic > Strategy in Theory and practice > Flashcards

Strategy in Theory and practice Flashcards

1
Q

Hierarchy of Strategy or three types of strategy

A

Corporate Strategy
Business Strategy
Functional Strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Corporate Strategy

A

the overall direction of the company and management of its business unit
Stability
Growth
Retrenchment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Business Strategy

A

Competitive and cooperative strategy
Competitive strategies
Cooperative strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Functional Strategy

A

maximizing resource productivity
Technological leadership
Technological followership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Mission Statement

A

Purpose/reason for organization
Promotes shared expectations
Communicates public image
Who we are; what we do; what we aspire to

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Organization “fit” with environment

A

Theory of population ecology
Institution theory
Strategic choice perspective
Organizational learning theory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Theory of population ecology

A

Inertia prevents from changing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Institution theory

A

Change by imitating

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Strategic choice perspective

A

They have the power to reshape

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Organizational learning theory

A

Organization adjust defensively+ Use knowledge offensively

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Environment is not static, it is dynamic.

A

If you do not fail to adjust, no strategic plan will save you from failure.
HERE COMES THE LEARNING ORGANIZATION

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

LEARNING ORGANIZATION 1

A

An organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

LEARNING ORGANIZATION 2

A

Learning organizations are attempting to adapt more quickly to challenging conditions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

LEARNING ORGANIZATION 3

A

They are usually horizontally managed, interactive organizations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

4 Chief Activities of

LEARNING ORGANIZATIONS

A

Systematic problem solving
New approach experimentation
Learning from experiences
Intra-organization knowledge transfer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Strategic flexibility

A

Demands long-term commitment to the development of critical resources

Demands firm to become a learning organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

How can we differentiate Strategic Decisions

A

Rare
Consequential
Directive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Rare

A

Typically new and unusual

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Consequential

A

Commit substantial resources and demand commitment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Directive

A

Direct lesser decisions and future actions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Mintzberg’s Modes

A

Entrepreneurial mode
Adaptive mode
Planning mode
Logical incrementalism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Entrepreneurial mode

A

Focus is on opportunities, problems are secondary. Typically large, bold decisions. Dominant goal is growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Adaptive mode

A

“muddling through” Reactive solutions to existing problems rather than proactive search for new opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Planning mode

A

Systematic gathering of information, situation analysis, generation of feasible alternatives, rational selection

25
Logical incrementalism
An interactive process, synthesis of the other three
26
Mintzberg's 5 Ps for Strategy
``` plan pattern position Perspective ploy ```
27
plan, strategy as plan
As a Plan, strategy needs to be developed in advance and with purpose. In the extreme; Formulation and control but no learning In the extreme; Pre-determined form, but no learning
28
plan, strategy as plan 2
But be careful; intended strategies are not always realized
29
pattern
With strategy as a Pattern, we learn to appreciate that what was successful in the past can lead to success in the future. In the extreme; Learning but no pre-determined form
30
pattern 2
Strategy is a pattern, that is, consistency in behavior over
31
position
With Position, strategy is about how the organization relates to its competitive environment, and what it can do to make its products unique in the marketplace
32
position 2
Locating of particular products in particular markets. | M.Porter: “Strategy is the creation of a unique and valuable position”
33
Perspective
Perspective emphasizes the substantial influence that organizational culture and collective thinking can have on strategic decision making within a company
34
Perspective
The strategy looks inside the organization; to the grand vision of the enterprise
35
Ploy
strategy is a means of outsmarting the competition
36
Ploy, GAME THEORY
GAME THEORY The analysis of strategies in competitive situations where the outcome of a participant’s choice of action depends critically on the actions of other participants.
37
Highly Rated Benefits (Mintzberg)
Strategy sets direction Strategy focuses on effort Strategy defines the organization Strategy provides consistency
38
Highly Rated Benefits (Mintzberg)
Clearer sense of strategic vision Sharper focus on strategic importance Improved understanding of changing environment
39
Highly Rated Benefits (Mintzberg) 2
Clearer sense of strategic vision Sharper focus on strategic importance Improved understanding of changing environment
40
5 Elements of Good Strategy
Arenas ( Where will we be active ?) Vehicles (How we will get there ?) Differentiators (How will we win in the marketplace ?) Staging (What will be our speed and sequence of moves ?) Economic logic (How will we make money ?) (How will we obtain our resources ?)
41
Not Always a Formal Process
Where is the organization now? (not where do we hope it is) If no changes are made, where will the organization be in 1,2,5 or 10 years? What specific actions should management undertake? What are the risks and payoffs?
42
The 5 Choices
This process is built on a set of five integrated choices. "These choices and the relationship between them can be understood as a reinforcing cascade, with the choices at the top of the cascade setting the context for the choices below, and the choices at the bottom influencing and refining the choices above."
43
The 5 Choices 2
``` What is our winning aspiration? Where will we play? How will we win? What capabilities must be in place? What management systems are required? ```
44
What is our winning aspiration?
This choice refers to "the purpose of the enterprise," the authors write.
45
Where will we play?
This second choice identifies specifically where the product or company will compete. (Mass market retailers (e.g., Target and Wal-Mart) or the prestige stores (e.g., Macy’s). Or in between; "masstige" product — higher-end (and higher-priced) than the traditional mass market.
46
How will we win?
This question must be answered with a clear value proposition and a path to competitive advantage.
47
What capabilities must be in place?
The task here is to define the activities and competencies that support the where-to-play and how-to-win choices.
48
What management systems are required?
Likewise, strategists must define the systems, structures and measures required to support the choices. (This framework can be applied at all levels of the company, including the organization level, strategic group or the single business unit. Clearly, the choices need to support each other among the different levels.
49
Strategic formulation
Development of long-range plans for effective management of opportunities and threats in light of corporate strengths and weaknesses
50
STRATEGY phases
DIAGNOSE How to go there VISION feedback
51
Tools for DIAGNOSE
SWOT 5 Forces PEST (or PESTLE)
52
How to go there?
Stakeholder Analysis To-do lists, metrics, responsibility analysis
53
Strategic management
Set of managerial decisions and actions that determines the long-run performance of a firm.
54
Strategic management includes
Environmental scanning (both external and internal : SWOT) Strategy formulation Strategy implementation Evaluation and control
55
Strategic thinking 1
Strategic thinking is goal-directed, structured, and focused on the future in a precise way.
56
Strategic thinking 2
It is analytical and ambitious.
57
Strategic thinking 3
It concerns power and trends, as well as uncertainty and the resolution or accommodation of that uncertainty
58
Strategy Porter
strategy means choosing a different set of activities to deliver a unique mix of value,” in other words, doing things differently

Strategic (16 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions